Marvell announces ~$115 billion all-stock acquisition of optical communications firm Lumentum

Marvell announced a definitive agreement to acquire optical communications company Lumentum in an all-stock transaction valued at approximately $115 billion, with the deal expected to close in the first half of 2028. Upon closing, existing Marvell shareholders are expected to own roughly 67% of the combined company. The merged business will integrate full-stack optical interconnect capabilities—including chip interconnects and high-performance lasers—to address the demand in AI data centers transitioning from copper cabling toward optical interconnects and co-packaged optics (CPO).